COVINGTON - Mayfield Hardware on the Square is closing after 38 years, co-owner Kendra Mayfield said.
"It is largely financial and we just expanded at the wrong time. We had to make a hard decision," said Mayfield, who owns the store along with her husband, Lee, and his mother, Patricia.
Friday was the last day of regular business for the store. It will close Saturday through Wednesday and reopen Thursday for the closing sale, which is being handled by a retail consultant. Mayfield said she expects the store's final day to be December 16.
The store in Newton Plaza, which opened in 2005, will remain open.
"We'll be making some investment there. That store does seem to be growing and can hold its own if it doesn't have to carry this one," she said.
The store in the plaza is a traditional hardware store, while the shop on the Square offers more gift items, including such well-known brands as Brighton, Yankee Candle and Waterford. Those gift items are no longer selling in this economy, Mayfield said.
"We have been struggling with this downturn in the economy since it hit several years ago," she said.
Mayfield thanked the store's loyal customers.
"We thank them for their business and we have tried to be strong supporters of the community and will continue to do so. We thank them for many years in business and we hope they can take advantage of the sales and come shop with us and say goodbye," she said.
The hardware store has been in business at 1115 Washington Street for more than 100 years and was known as King Hardware when the Mayfields purchased it in September 1973. They renamed the store Mayfield Hardware Co., and it became affiliated with Ace Hardware.
In a letter to customers posted to the store's Facebook site, Lee and Kendra Mayfield said, in part:
"We have tried everything we could think of to prevent this closure. Throughout it all, we have been and will remain strong supporters of our community. We have heard several comments over the last few months about our importance to the square. While we certainly appreciate and have been honored by these sentiments, we know that the downtown and the square will be fine. The square is stronger than any one retailer. Similar feelings were felt when Cohen's, City Pharmacy, People's, Poole's, and Red & White closed or when buildings collapsed, or corporations purchased local businesses. Throughout it all the city, county and, most importantly, the community have remained committed to downtown and the square."
The letter also promises improvements in product mix, customer service, staffing levels, training and general retail execution at the Newton Plaza store.